(Alliance News) - On Wednesday, European stock exchanges close in positive territory, except for France, which shows a slight decline, while eyes are on Europe's falling natural gas prices, which appear to have had a positive impact on markets.

"Much of the more optimistic view of the British economy stems from falling energy prices. After two days of rises, natural gas is falling again, threatening to return to the January lows. Although these declines have not yet been passed on to consumers, they suggest that the income contraction may ease during 2023," commented Chris Beauchamp, chief market analyst at IG.

Indeed, natural gas futures-measured on the Dutch TTF-are holding below EUR55/MWh, confirming close to lows not seen since September 2021, as temperatures in Europe are expected to rise and milder weather returns from next week.

Thus, the FTSE Mib closes up 0.2 percent at 27,160.73, the Mid-Cap down 0.1 percent to 44,413.86, the Small-Cap gains 0.1 percent to 30,245.56, and Italy Growth is in fractional green at 9,695.50.

In Europe, London's FTSE 100 gains 0.3 percent, Paris' CAC 40 gives up 0.2 percent and Frankfurt's DAX 40 is up 0.6 percent.

On the Mib, Banca Mediolanum closes in the green by 0.6 percent after reporting a drop in net income in 2022, to EUR521.8 million from EUR713.1 million a year earlier.

Net interest income rose to EUR407.0 million from EUR270.2 million, contribution margin increased to EUR1.43 billion from EUR1.23 billion, and operating margin rose to EUR680.3 million from EUR502.6 million in 2021.

The Common Equity Tier 1 ratio as of December 31, 2022 was 20.6 percent, a level of absolute excellence that also takes into account the distribution of dividends of about EUR369 million.

Hera - down 0.3 percent - announced Wednesday that it had approved its Business Plan to 2026, a year in which it expects a dividend to grow to EUR15 cents per share, 25 percent higher than the last dividend paid.

EBITDA to 2026 is expected to be around EUR1.5 billion up EUR246 million from 2021, total investments will be over EUR4.1 billion according to estimates, up 53% from the last 5 years.

The company then expects over EUR130 million in PNRR contributions, obtained to accelerate the group's investments in the territories served.

Growing profits and increased dividend. This is how Banco BPM presents itself to the financial community at the close of a positive 2022 for the bank, but at the end of trading on Wednesday it closed at the tail end of the list, in the red by 2.0%.

Net income rose to EUR702.6 million or 24% in 2022 from EUR569.1 million in 2021 while the adjusted figure marks a 25% increase to EUR886.3 million from EUR710.1 million.

In the fourth quarter alone, net income improved 93 percent to EUR209.9 million from EUR108.7 million in the same period last year while the adjusted figure marks an 83 percent increase to EUR251.7 million from EUR137.6 million.

On the cadet segment, Cementir Holding gains 3.9 percent after announcing its 2022 consolidated pre-consolidated figures on Wednesday, reporting revenues at an all-time high of EUR1.72 billion, up 27 percent from EUR1.36 billion in 2021. These figures, the company explained, do not include the impacts of the application of IAS 29 in Turkey.

Historical record also for EBITDA, at EUR335.2 million up 7.8 percent from EUR311.0 million in 2021.

Credito Emiliano -- down 1.1 percent -- reported Wednesday that it was the strongest institution at the European level among commercial banks and the best in Italy, as shown by the publication on the European Central Bank's website of capital requirement data released by the relevant banks supervised directly by the Frankfurt-based authority.

The requirement taken into consideration is the Pillar 2 Requirement, which, for the Credem Group, is 1.0%, the best parameter in Italy and the first in Europe among commercial banks within the panel of institutions directly supervised by Frankfurt that have disseminated it.

Banca Popolare di Sondrio gives up 0.5 percent. The board of directors on Tuesday approved preliminary consolidated economic and financial results for fiscal year 2022, which ended with a net profit of EUR251.3 million, down from EUR268.6 million a year earlier.

OVS is in the green by 1.7 percent after announcing the purchase-in the period between January 31 and February 6-of 80,303 ordinary shares for a total value of EUR180,746.41.

On the Small-Cap segment, Greenthesis - up 0.1 percent - and Andion Italy, the Italian subsidiary of Andion Global, a world leader in the design, supply and construction of solutions for energy valorization through anaerobic digestion of agricultural by-products and organic waste, announced Tuesday that they have signed a framework agreement aimed at a joint development pathway aimed at the acquisition, restructuring and subsequent management of a cluster of plants for the treatment and energy valorization of agrifood waste, by-products and livestock manure for the purpose of biomethane production.

Caltagirone Editore -- in the green by 0.3 percent -- announced Tuesday that Piemme, the group's advertising concessionaire, and Mondadori Media, a Mondadori Spa Group company -- in the green by 0.4 percent on the Mid -- have defined a partnership aimed at promoting Tv Sorrisi e Canzoni, Chi, Guida TV and Telepiù.

The collaboration involves exclusively entrusting Piemme with the sale in Italy of advertising space for the four television and entertainment brands, in the magazine, digital channels, social and app as well as the management of sponsorships related to events.

Among SMEs, Jonix closes in the red by 5.4 percent after reporting Tuesday that it ended 2022 with revenues down to EUR4.4 million from EUR6.8 million in the previous year. Revenues earned abroad are EUR2.5 million, or 58 percent of the total, compared to EUR4.1 million in 2021, when they were 60 percent of the total. Italy shows revenues of EUR1.9 million compared to EUR2.8 million in 2021.

Franchetti is up 4.8 percent after reporting Wednesday that it won orders worth EUR7.5 million in the fourth quarter, including EUR5.6 million in Italy alone.

The group's order backlog as of Dec. 31, 2022, amounted to about EUR20 million, registering a higher-than-expected increase of 30 percent compared to last September's disclosure and allowing visibility on revenues to be extended into fiscal year 2025.

In New York, at the height of trading on Wednesday, the Dow is in the red by 0.5 percent, the Nasdaq gives up 1.7 percent, and the S&P 500 is down 1.1 percent.

Among currencies, the euro changes hands at USD1.0720 versus USD1.0704 at Tuesday's close. In contrast, the pound is worth USD1.2068 from USD1.2018 on Tuesday evening.

Among commodities, Brent crude is worth USD84.03 per barrel versus USD83.40 per barrel Tuesday night. Gold, meanwhile, trades at USD1,887.35 an ounce from USD1,876.10 an ounce at Tuesday's close.

In macroeconomic news, crude oil inventories in the United States increased by 2.423 million barrels in the week ended Feb. 3, 2023, compared to market expectations of an increase of 2.457 million barrels, according to the latest U.S. Energy Information Administration report.

On Thursday's macroeconomic calendar, Japan's M2-M3 money supply data are due at 0050 CET.

At 0101 CET it is the turn of the United Kingdom to publish the RICS housing price balance.

Back in Japan, at 0700 CET, machine tool orders are published.

At 0800 CET, comes Germany's inflation, while at 1100 CET, also in Europe, the European Union's economic forecast is released. At the same time, the EU leaders' summit is scheduled.

In the afternoon, overseas, at 1430 CET, data on continuing unemployment claims are released.

Among companies listed on Piazza Affari, results are expected from Banca Generali, Banca Ifis, Banca Profilo, Banco di Desio e della Brianza, BFF Bank, Buzzi Unicem, Enel, Gefran, illimity Bank, Mediobanca, Piquadro, Racing Force, Sanlorenzo, Unipol, and UnipolSai.

By Claudia Cavaliere, Alliance News reporter

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